SGX Nifty up 210 points; here's what changed for market while you were sleeping

2 weeks ago 30

Synopsis

Asian stocks opened mostly higher on Friday, extending rallies on Wall Street, after a contraction of the US economy sparked expectations of a slowdown in Federal Reserve rate hikes. MSCI's index of Asia-Pacific shares outside Japan was up by merely 0.05 per cent.

Shutterstock.comIndia 10-year bond dropped about 0.08 per cent to 7.33 after trading in 7.31 - 7.37 range on Thursday.

Indian equity markets are set for a strong opening on Friday amid a strong close for US stocks and the US Fed chair's comments on recession. Asian peers were mostly up but the gains were not much. US Stocks also gained about a per cent during the overnight trade. Traders will track Q1 earnings for stock-specific action. Here's breaking down the pre-market actions:

STATE OF THE MARKETS SGX Nifty signals a positive startNifty futures on the Singapore Exchange traded 210 points, or 1.24 per cent, higher at 17,157, signalling that Dalal Street was headed for a positive start on Friday.

  • Tech View: Nifty50 on Thursday made an upside breakout, as the index closed above 16,900, breaching a slew of strong resistance hurdles. The index made a gap-up start and still ended up forming a strong bullish candle on the daily scale.
  • India VIX: The fear gauge plunged sharply over 6 per cent to 17.01 level on Thursday over its close at 18.13 on Wednesday.

Asian shares open mostly higherAsian stocks opened mostly higher on Friday, extending rallies on Wall Street, after a contraction of the US economy sparked expectations of a slowdown in Federal Reserve rate hikes. MSCI's index of Asia-Pacific shares outside Japan was up by merely 0.05 per cent...

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